Stellar vs XinFin, which one makes the cut?
While technology companies are trying to make a mark for themselves, we can always find the perfect match for our exploratory mission by keeping an eye out for the details. Today we have expounded two such networks: Stellar vs XinFin, what would you choose?
Stellar is created through Ripple spin-off and thus ends up being extremely cheap. The current base transaction fee is 0.00001 XLM which is a tiny fraction of a single penny.
Emphasizing on the stellar features of Stellar, we found out that:
- Stellar (XLM) is a completely decentralized consensus platform.
- It is designed to support any type of currency.
- It has a built-in decentralized exchange that can be used to trade any type of currency or asset.
- Supports thousands of transactions per second
- It can be used to send or trade any currency, asset, or token.
Anchors are simply entities that people trust to hold their deposits and issue credits into the Stellar network for those deposits. Anchors do two simple things:
1) They take your deposit and issue the corresponding credit to your account address on the Stellar ledger.
2) You can make a withdrawal by bringing them the credit they issued.
Stellar has added enhanced security features to its network and a host of apps; including more security features such as multi-signature, batching/atomicy, and businesses can choose which nodes can validate their transactions. These increased security features are especially crucial for STOs, as the tokens represent real-world assets. Moreover, it enables trading between KYC/AML approved addresses only otherwise they stand of risk having a frozen account. It carries a ledger, which is able to store offers that people have made to buy or sell currencies. Offers are public commitments to exchange one type of credit for another at a predetermined rate. The ledger becomes a global marketplace for assets. It also allows you to send any currency you hold to anyone else in a different currency through the built-in distributed exchange. People can receive any currency through an anchor they added.
XinFin Network
XinFin is currently running on the top of its game by giving more popular blockchains a tough competition. They have a host of applications that form a complete ecosystem that can be used for cross-selling or up-selling products for different intertwined business functions. Working on the principle of hybrid blockchain i.e. a combination of a public and private blockchain, this network has revolutionized the workings of a blockchain by making it more liberal, all the while keeping it more secure. This is done by a series of checks enabled by proof of stakes (PoS) methodology wherein, the nodes holding the largest amount of stakes would have the right to sanction transactions. The aforementioned host node is practically a part of a larger public chain while hosting its own private blockchain on that node. This creates a global connection while keeping the privacy of the organization secure.
Upon adding the smart contracts capability, their business usage has been ameliorated as the enforcement of the contract regulations are automated and impact accountability can be included for various stakeholders.
Here we list down some important differences between the two networks:
According to the recent developments, XinFin XDC burnt a concrete percentage of the token in order to support the academic initiative- Blockdegree.org which is basically a platform for building basics of blockchain for students, new professionals, and blockchain entrants. This step was highly commended by major reviewers.
Staking rewards are awarded when token holder casts a vote for the staking pool. While Stellar awards with 1% dividend per year, irrespective of the network metrics, as the staking rewards, XinFin awards a whopping 10% staking rewards of the 10M XDC. Another down point of Stellar comes in because of the convenience fee charged by the staking pool.
The tipping point towards XinFin comes in when with double the transaction speed as Stellar and less than half the block creation time as that of Stellar, the XinFin coin XDC still manages to remain at a lower price, making it lucrative for small scale investors looking to start with something in the lower range yet carrying huge potential. The multi-currency exchange mechanism and the capability of creating digital assets using XDC token in order to support multiple currencies result in an expansion of feasibility and durability of operations.
The practical applications of the XinFin network have surpassed the achievements of all similar blockchain networks. Applications like TradeFinex in trading and financing and other projects with Air France KLM as well as Ramco, has helped XinFin take the operations and manufacturing world with a storm. Innovating in different portions of the value chain with their state of the art technology has become the key to making XinFin stand out among its peers.
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